(3)[ Subject to any rules made in this behalf, any authority referred to in sub¬-section (1) ] [ Substituted by Act 46 of 1964, Section 35, for section 37 (w.e.f. 1.4.1965).][or sub-section (1-A)] [ Inserted by Act 4 of 1988, Section 153 (w.e.f 1.4.1989).][may impound and retain in its custody for such period as it thinks fit any books of account or other documents produced before it in any proceeding under this Act:Provided that ] [ Substituted by Act 46 of 1964, Section 35, for section 37 (w.e.f. 1.4.1965).] [[an Assessing Officer] [Substituted by Act 45 of 1972, Section 17, for " a Wealth-tax Officer" (w.e.f. 1.1.1973). ][or a Valuation Officer] [Substituted by Act 45 of 1972, Section 17, for " a Wealth-tax Officer" (w.e.f. 1.1.1973). ][ Substituted by Act 46 of 1964, Section 35, for section 37 (w.e.f. 1.4.1965).] [or an ] [Inserted by Act 4 of 1988, Section 153 (w.e.f. 1.4.1989). ] [Assistant Director] [ Substituted by Act 21 of 1998, Section 66, for " Assistant Director" .][or Deputy Director] [Inserted by Act 4 of 1988, Section 153 (w.e.f. 1.4.1989). ] [shall not-(a)impound any books of account or other documents without recording his reasons for so doing, or(b)retain in his custody any such books or documents for a period exceeding fifteen days (exclusive of holidays) without obtaining the approval of ] [ Substituted by Act 46 of 1964, Section 35, for section 37 (w.e.f. 1.4.1965).][the Chief Commissioner or Director-General or Commissioner or Director therefor, as the case may be] [ Substituted by Act 26 of 1988, Section 64, for " the Chief Commissioner or Commissioner therefor" (w.e.f. 1.6.1988).].
